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Reasons recorded for Reassessment cannot be Substituted, Added, or Deleted: ITAT [Read Order]

By Yogitha S. Yogesh - On December 12, 2022 5:40 pm - 2 mins read

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the reasons recorded for reopening the assessment are to be read as they were recorded by the Assessing Officer and the same cannot be supplemented. The Assessing Officer was of the view that income totalling Rs. 9,81,60,144 has escaped assessment, as the…

M/s. Arshiya Rail Infrastructure Ltd vs Dy. Commissioner of Income Tax Central Circle

Counsel for Appellant:   Shri Piyush Chhajed, Shri Sumit Mantr

Counsel for Respondent:   Shri Mehul Jain

CITATION:   2022 TAXSCAN (ITAT) 1516